October 4, 2022

Through the first quarter of this yr alone, there have been 3,737 rental property repossession orders granted in England and Wales

The newest market evaluation by property and lettings agent, Barrows and Forrester, has revealed that, to date this yr, Birmingham is the rental property repossession capital with regards to landlords reclaiming their properties from downside tenants.

When a landlord desires to take away tenants from their property, they usually need to go to the county courts and file a repossession order. The motivation is often lease arrears which see the tenant failing to pay lease for an prolonged time period and refusing to vacate the property.

Through the first quarter of this yr alone, there have been 3,737 rental property repossession orders granted in England and Wales. 27% of those repossessions have been focused at tenants in London, 15% within the South East, with the North West additionally accounting for among the highest ranges at 11%.

Nevertheless, at native degree, it’s Birmingham the place landlords have been most energetic with regard to rental property repossessions. This metropolis ranks prime with 81 going down in Q1 of this yr, with the London Borough of Lewisham not far behind with 69 in whole.

Excessive numbers of repossessions have additionally been reported in Bournemouth, Christchurch & Poole (60), Brent (55), Greenwich (55), Ealing (54), and Newham (48).

Whereas these areas reported numerous landlord repossessions, there are 19 areas that reported completely no repossessions in Q1 2020. These embrace South Norfolk, Monmouthshire, Harlow, Guildford, and South Staffordshire.

Managing Director of Barrows and Forrester, James Forrester stated, “Because the nation’s second metropolis, demand for rental properties in Birmingham is excessive and this demand is just rising as increasingly more individuals select to reside and work throughout the metropolis.

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Birmingham is present process a section of in depth regeneration, bringing new enterprise to Birmingham, to not point out the town internet hosting the present Commonwealth Video games, so there are many top quality candidates searching for lodging at current.

With the federal government doing their greatest to discourage buy-to-let funding by dampening the monetary returns on supply, Birmingham’s landlords can ailing afford to have their house occupied by a tenant who’s failing to pay their method, so it’s comprehensible {that a} notable quantity have determined to wash home and take away downside tenants to date this yr.

Given how extreme the nation’s present value of dwelling disaster has turn into and the way lengthy it’s anticipated to final for, we’d be naive to not assume that this quantity might proceed to climb.

In fact, the transfer to repossess a rental property will at all times be the final resort for any landlord and the huge, overwhelming majority will at all times handle to return to an acceptable settlement with their tenant previous to this requirement.